Obama signs new patent act

The last time the U.S. patent laws were amended was in 1952.

1952!

But now, President Obama has signed into law a bill that brings the patent regulations into modern times. And here’s the kicker.

Both Republicans and Democrats supported the bill, which streamlines the process making it faster to take ideas from conception to reality. The idea is to encourage the entrepreneurial spirit in the United States. And help light a fire under the economy.